Everything You Need To Know About Buying A Condo
Have you ever lived in a condominium unit? Condos tend to be especially popular in spots with high property values, like big cities or popular vacation destinations. A condominium, or condo, is a building or community of buildings in which units are owned by individuals, rather than a landlord. Senior condominium living can offer some pretty wonderful benefits for both seniors and their families.
Condos are managed by a Homeowners’ Association (HOA) and there are HOA fees for living in a condo, meaning that rent will include both the utilities and the fees for the upkeep of common areas. However, when renting an apartment, you would have no HOA fees and utilities will not be included in the rent.
Basically the ownership agreement is handed over to the buyer of each and every unit of any condo. It indicates the standing of common elements fees and reserve fund assessments against …